Tether reaches a $113.13 million trading volume!

Tether (USDT) set a new record in July with an impressive trading volume of $113.13 billion. This remarkable event occurred following the collapse of Silicon Valley Bank in March 2023. Data from IntoTheBlock indicates that the bank’s downfall marked a turning point for the world of stablecoins. Why? Because traditional financial institutions sought refuge in Tether to maintain their stability.

With its easy access and high liquidity, USDT has captured the hearts of traders. These appealing features have made Tether the first and unrivaled choice for traders.

However, the story of stablecoins’ growth doesn’t end here. The market for these stable digital currencies has experienced a stunning leap. From $137.86 billion in December 2022, it has now reached the remarkable threshold of $150 billion in July 2024. This impressive growth signifies the increasing trust in stablecoins.